Corporate
ITC payment for non-exec directors
CALCUTTA: In a bid to bring the remuneration of the non-executive directors of the company in line with the current trends, and commensurate with the time devoted and the contribution made by them, the ITC board has proposed tha
t they be paid for the financial year ending March 31, 2001, an amount not exceeding one per cent of the net profits of the company, as per Section 309 (4) of the Companies Act, 1956.
Philips set-top boxes for Zee
BANGALORE: Consumer electronics giant Philips announced a tie-up with Zee TV for providing set-top boxes that would help the latter in starting its `direct-to-operator' plan, designed to provide better channel service to end consumers.
NSE suspends trading in 6 scrips
MUMBAI: The National Stock Exchange (NSE) on Tuesday announced suspension of trading equity shares of six companies until further notice for non-compliance of the provisions of listing agreement executed with the exchange.
Aksh Optifibre IPO to open on June 28
AKSH Optifibre Ltd, a company that manufactures optical fibre and cables, is coming out with its initial public offer. The offer bid opens on June 28 and closes on July 18.
BPL Engg net up 17 per cent
BPL Engineering has reported a higher net profit and sales during 1999-2000. The growth in profit was 17.76 per cent and sales were higher by 23.36 per cent over the previous year.
VLCC plans public issue by 2002
WITH an annual turnover of Rs. 30.11 crores for the financial year ended 1999-2000, VLCC (Vandana Luthra's Curls and Curves) is all set to go public by 2002. The company is estimating a turnover of Rs. 60 crores for the current financial year, Mr. Mukesh
Lutra, Proprietor, VLCC, has said.
Telstra deal consummated -- Legal formalities remain
MODICORP and its associates -- AIG Infrastructure and Distacom -- have together bought over Telstra International's 49 per cent equity stake in Modi Telstra Ltd, provider of the Command cellphone service in Calcutta. The deal, for an undisclosed sum, was
``consummated'' between the parties concerned on June 2.
Miscellaneous
Women on company boards a priority: Govt
THE United Nations Permanent Representative in India, Dr. Brenda Gael Mc Sweeney, met the Secretary, Department of Company Affairs (DCA), Dr. P.L. Sanjeev Reddy, here on Tuesday and discussed measures for all-round human development in the context of new
code for corporate governance.
ICICI to advertise for change of brass for Madras Petrochem
THE Board for Industrial and Financial Reconstruction (BIFR) has declared the second sanctioned rehabilitation scheme, 1996, of Madras Petrochem Ltd (MPL) as failed and has directed ICICI to advertise for change of management.
Stocks
DSE plan to change settlement cycle
THE Delhi Stock Exchange (DSE) is planning to change its settlement cycle from Monday-Friday to Tuesday-Monday to expedite its payment system and provide more opportunities for arbitrage business at the bourse.
Apeejay, Stanchart tie up for on-line trading
THE Apeejay Surrendra group and Standard Chartered Bank have tied up for an on-line venture to enable clients to trade in securities listed on the National Stock Exchange.
